The Indian real estate market has started to rebound since hitting rock bottom in recent quarters
Whenever we think about the future, we think about saving and searching for different ways to multiply our income and wealth. There are various investment options for citizens such as fixed deposits, mutual funds, gold, stock market, venture capital but nothing comes close to real estate as an investment option. Real estate is regarded as one of the safest investment markets in the world. Even after some brief setbacks, it remains the best investment opportunity - and will continue to expand over time. Due to a massive economic boom, the average income in the majority of Indian cities has risen, providing us with an incentive to prepare for the future, making real estate the perfect investment option.
In India, buying a home provides an intrinsically high level of emotional fulfilment and joy. The positive news is that the Indian real estate market has already started to rebound since hitting rock bottom in recent quarters. Due to the scarcity of land in many cities across the country, even investing a small apartment will provide you with a profit, either by rental income or through selling it with a profit margin in due course.
Below are few points to keep in mind before investing in real estate properties:
In today’s times, doing your homework before investing is of utmost importance. In terms of real estate investment, always do a thorough research about the project, developer, amenities, background of the construction company, location and affordability. Additionally, home buyers should understand the property’s blueprint as well as take into consideration the size of the apartment. The customers are urged to check the property via RERA and also seek legal advice during the purchase process to ensure greater clarity. Another important factor to remember is the safety issue. To get the most accurate evaluation of the site and the apartment, it is advised to visit the project several times and at various times of the day.
Once you zero in on the project, getting a loan plays a major role in the same. Do keep in mind in keeping a high credit score or rating which helps in getting home loans.
Examine Market Rates:
Do examine market rates before purchasing any property. Regardless of the fact that real estate is market-driven and recurring, this data is likely to reveal some valuable knowledge about the property's demand, rental yields, and pricing.
It is critical to comprehend the nuances of the property in which one wishes to invest. Buyers of residential properties can compare home loan interest rates, developer discounts and government policies such as decreased stamp duty.
Title Related Issue:
Resolving title-related problems is time-consuming and costly. Before finalizing on any property, the buyer should do a proper due diligence and check for title defects in the property, if any.
Given the shifting complexities of our times, owning a property can be the best decision and having these basic points in mind can guide newbies on the right path to investing in real estate.
Since it is your money, invest smartly and intelligently.
The author is Managing Director, Pioneer Property Management Limited
DISCLAIMER: Views expressed are the author's own, and Outlook Money does not necessarily subscribe to them. Outlook Money shall not be responsible for any damage caused to any person/organisation directly or indirectly.